Production and Operations Management Involves Three Main Types of Decisions

question 32

Multiple Choice

Production and operations management involves three main types of decisions that are made at three different stages. The final stage of operations management focuses on which of the following?

• A) inventory control
• B) improving production and operations
• C) production planning
• D) establishing critical paths

---

Definitions:

Inputs

Factors including workforce, materials, and funds employed in the process of creating products or offering services.

Production

The process of combining various material inputs and immaterial inputs (plans, know-how) to make something for consumption.

Constant Returns To Scale

A situation in production where increasing the amount of inputs results in a proportionate increase in the output.

Poorer Grows Faster

An observation in economics that poorer economies tend to grow at a faster rate than richer economies due to the catch-up effect.